Hochtief Bids $1.05 Billion for More Leighton Stake
09 Marzo 2014 - 7:50PM
Noticias Dow Jones
SYDNEY--Germany's Hochtief AG (HOT.XE) moved to tighten its grip
on Leighton Holdings Ltd. (LEI.AU) on Monday, saying it will offer
1.16 billion Australian dollars (US$1.05 billion) to increase its
controlling stake in Australia's biggest construction company.
Hochtief, which is controlled by Spanish builder Actividades de
Construccion y Servicios SA, said it will offer A$22.15 for three
out of every eight shares currently held by other Leighton
shareholders. The bid represents a premium of 6.9% to Leighton's
closing price of A$20.72 on Friday. It would raise Hochtief's
interest in the company to 74.23% from 58.77%.
Write to Ross Kelly at ross.kelly@wsj.com
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